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January 26, 2012 12:17 am GMT
BeachMint an ecommerce startup that lets customers subscribe to receive products hand-picked by celebrities each month has quickly become one of the hottest companies in Los Angeles.Today the company is announcing that it's raised a $35 million funding round with some big-name investors: the round is being led by Accel Partners, with participation from Goldman Sachs, New World Ventures, NYC-based and Millennium Technology Value Partners, with existing investors participating as well. Accel's Greg Waldorf will be joining BeachMint's board. This brings BeachMint's total funding to a whopping $75 million.This is obviously a big raise, and it comes only seven months after the company raised $23.5 million at a rumored $150 million valuation. Why are they raising so much? The short answer: they're growing like crazy and are planning to go international and they'll be fending off plenty of competition.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/BX-u2ndnJac/
BeachMint Raises Another Big Round: $35 Million For Celebrity-Backed Shopping Experiences
BeachMint an ecommerce startup that lets customers subscribe to receive products hand-picked by celebrities each month has quickly become one of the hottest companies in Los Angeles.Today the company is announcing that it's raised a $35 million funding round with some big-name investors: the round is being led by Accel Partners, with participation from Goldman Sachs, New World Ventures, NYC-based and Millennium Technology Value Partners, with existing investors participating as well. Accel's Greg Waldorf will be joining BeachMint's board. This brings BeachMint's total funding to a whopping $75 million.This is obviously a big raise, and it comes only seven months after the company raised $23.5 million at a rumored $150 million valuation. Why are they raising so much? The short answer: they're growing like crazy and are planning to go international and they'll be fending off plenty of competition.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/BX-u2ndnJac/
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